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ON SEMICONDUCTOR CORPORATION

(ON)
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Real-time Estimate Cboe BZX  -  02:49 2022-09-27 pm EDT
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onsemi Celebrates Expansion of Silicon Carbide Production Facility in New Hampshire

08/11/2022 | 04:26pm EDT

The facility will increase its Silicon Carbide (SiC) capacity by five times year-over-year, helping to ensure supply of critical components for onsemi customers

onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, today celebrated the inauguration of its silicon carbide (SiC) facility in Hudson, New Hampshire with a ribbon cutting ceremony. Signifying the importance of this event and manufacturing of semiconductors in the U.S. were the attendance of multiple guests of honor led by U.S. Secretary of Commerce Gina Raimondo. Also present were U.S. Senators Jeanne Shaheen and Maggie Hassan from New Hampshire, Representative Chris Pappas from the 1st congressional district of New Hampshire and Representative Annie Kuster from the 2nd congressional district of New Hampshire as well as other local governmental dignitaries.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220811005443/en/

onsemi celebrated its newest silicon carbide production facility in Hudson, NH with a ribbon cutting ceremony. Attendees from left to right: Felicity Carson, SVP and CMO, onsemi; U.S. Sen. Maggie Hassan (NH); Catherine Côté, VP and Chief of Staff to the CEO, onsemi; U.S. Sen. Jeanne Shaheen (NH); Tobin Cookman, SVP of Human Resources, onsemi; Hassane El-Khoury, President, CEO and Director, onsemi; U.S. Secretary of Commerce Gina Raimondo; Joe Loiselle, VP of SiC Operations and GM of Hudson site, onsemi; U.S. Rep. Annie Kuster (NH-02); Simon Keeton, EVP and GM Power Solutions Group, onsemi; Thad Trent, EVP and CFO, onsemi; Rep. Chris Pappas (NH-01); Dr. Wei-Chung Wang, EVP of Global Manufacturing and Operations, onsemi. (Photo: Business Wire)

onsemi celebrated its newest silicon carbide production facility in Hudson, NH with a ribbon cutting ceremony. Attendees from left to right: Felicity Carson, SVP and CMO, onsemi; U.S. Sen. Maggie Hassan (NH); Catherine Côté, VP and Chief of Staff to the CEO, onsemi; U.S. Sen. Jeanne Shaheen (NH); Tobin Cookman, SVP of Human Resources, onsemi; Hassane El-Khoury, President, CEO and Director, onsemi; U.S. Secretary of Commerce Gina Raimondo; Joe Loiselle, VP of SiC Operations and GM of Hudson site, onsemi; U.S. Rep. Annie Kuster (NH-02); Simon Keeton, EVP and GM Power Solutions Group, onsemi; Thad Trent, EVP and CFO, onsemi; Rep. Chris Pappas (NH-01); Dr. Wei-Chung Wang, EVP of Global Manufacturing and Operations, onsemi. (Photo: Business Wire)

The site will increase the company’s SiC boule production capacity by five times year-over-year and almost quadruple the number of its employees in Hudson by the end of 2022. The expansion gives onsemi full control of its silicon carbide manufacturing supply chain, starting with the sourcing of silicon carbide powder and graphite raw material to the delivery of fully packaged SiC devices. This allows onsemi to provide its customers with the assurance of supply required to meet rapidly growing demand for SiC-based solutions. SiC is critical for enabling efficiency in electric vehicles (EVs), EV charging, and energy infrastructure and is an important contributor on the path to decarbonization. The SiC total addressable market is projected to grow from $2B in 2021 to $6.5B in 2026, at a compound annual growth rate of 33%.

“In addition to market-leading efficiency of our products, our end-to-end vertically integrated solution in a supply-constrained environment is a compelling and differentiated competitive advantage,” said Simon Keeton, executive vice president and general manager Power Solutions Group at onsemi. “We have already expanded to a second building as we increased our substrate capacity and plan to continue ramping, allowing us to source our own cutting-edge SiC wafers for customer products.”

onsemi is the only large-scale supplier of both SiC and insulated-gate bipolar transistors (IGBT) solutions with end-to-end supply capability. During its second quarter earnings call last week, the company announced $4B of committed SiC revenue for the next three years through long-term supply agreements with a broad base of customers. It will triple last year’s silicon carbide revenue in 2022 and exceed $1 billion in revenue in 2023, further emphasizing onsemi’s progress toward SiC leadership.

The inauguration ceremony comes only days after President Biden signed the CHIPS and Science Act into law. The Act will strengthen supply chain resiliency and help avoid disruptions for critical components affecting every sector of the economy.

Please find pictures of the ribbon cutting ceremony and additional SiC information here.

About onsemi

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way to creating a safer, cleaner, and smarter world. onsemi is recognized as a Fortune 500® company and included in the S&P 500® index. Learn more about onsemi at www.onsemi.com.

onsemi and the onsemi logo are trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.


© Business Wire 2022
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Financials (USD)
Sales 2022 8 248 M - -
Net income 2022 2 058 M - -
Net Debt 2022 614 M - -
P/E ratio 2022 13,5x
Yield 2022 -
Capitalization 27 164 M 27 164 M -
EV / Sales 2022 3,37x
EV / Sales 2023 3,16x
Nbr of Employees 31 650
Free-Float 71,2%
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Number of Analysts 28
Last Close Price 62,70 $
Average target price 75,20 $
Spread / Average Target 19,9%
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Managers and Directors
Hassane El-Khoury President, Chief Executive Officer & Director
Sam Thad Trent Chief Financial Officer, Treasurer & Executive VP
Alan Campbell Director
Johannes M. C. Stork Chief Technology Officer & Senior Vice President
Wei-Chung Wang Executive VP-Global Manufacturing & Operations
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